jetblue - I cannot say about the falant as I have not taken it, but the Tower Signal Test you will get two official turns at. You are of course free to ask the tower at any time for the light signals.
The official FAA stance is that if you are undergoing pilot training AND have a limited medical they will (and need to) authorise a signal test. Most people do pass this test as most CVD poilots CAN distinguish aviation colours as used!!
If you (when you) pass the tower signal test you get a letter from the FAA which will act as your colour (color) vision test for your medical - it is called a letter of evidance. I do not know if the falant gives the same - I would sugest you phone the FAA, they are VERY helpful and from my own experiences with them, on your side.
All the best mate. I would say get that letter ASAP as it has been said that the FAA might take the new CAA CAD test as standard and that is guaranteed to F*** most of you in the free USA as it will do us here in JAA land (just like our present tests). Might seem a bit harsh, but I am English and have an FAA ticket and unrestricted medical (thanks to the Tower Signal Test), but restricted to sweet FA in my home land for no reason!!
Good flying mate - this will NOT beat you where you are.